Account payable

noun

Definitions

Noun
  1. 1
    A balance due to a creditor on a current account.

    "Until that time, the amount is held as an account payable and added to the current liabilities of your business. When an outstanding expense is paid, the payment amount is subtracted from a cash account and removed from the accounts payable."

  2. 2
    a liability account showing how much is owed for goods and services purchased on credit wordnet

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